The prices in real estate in Manila, in the Metro Manila region have remained the same in the last couple of months. The real estate prices for second hand homes have remained in this city.
The price per m² in Manila has remained the same in the last 6 months. In April, the average price per m² was ₱ 96,817. In the following month the price per m² increased considerably to ₱ 148,333. The price for the following two months in (June, July) had a considerable decrease of 62 with regard to the prior two months. The price per m² has had a considerable deflation of 81 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per m² of ₱ 99,328.75 to ₱ 80,570.5 during August, and September.
Based upon to the price in Manila (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during April, is ₱ 6,352,993. During May the price went through a considerable rise reaching ₱ 19,762,638. During the following two months (June, July) the average price had a considerable reduction of 75 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 94 %, going from ₱ 11,435,524 to ₱ 10,754,774 in August and September.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 12,269,507 they are 74 % more affordable than the average price for Manila. The properties with the highest average price have 4 bedrooms, Their price is 58 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 8,444,199.
With regard to the average price per m² , those properties with 2 bedrooms are the cheapest ones at a cost of ₱ 77,630 / m², with an average ₱ 91,529 / m² price in Manila. The properties with the highest average prices have 4 bedrooms. They are 44 % more expensive than the average followed by properties with 1 bedroom with a price at ₱ 102,980 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 12,269,507 it is 73 % cheaper than the average price in Manila. "Condominium" is seen as the second most affordable property type. The dearest property type is "Commercial Lot" followed by "Farm House". At a price of ₱ 24,046,667 it is 486 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Apartment" at an average cost of ₱ 74,839 / m² followed by "Townhouse" priced at ₱ 78,444 / m². "Condominium" is the most costly type of property with a ₱ 142,868 / m² cost followed by "Farm House" with an average price of ₱ 112,028 / m².